We had thought that transparency meant efficiency in the market.. And that's not what happened. The meaning of the bias within the Fed was not well understood.
Christopher Low
Home sales have remained surprisingly strong despite higher interest rates.
home strong interest sales
It's an ugly number -- you have a decline in March, you have a downward revision to the prior month
ugly revision
All in all, a much more bond-friendly, stock market-hostile report than expected.
Activities are beginning to pick up. Manufacturing has been the weakest part of the economy. The rest of the economy may be even stronger.
rest beginning economy part
Housing is as strong as ever, and the mortgage business is as good as ever.
business good strong
transparency meaning thought market efficiency bias
In today's market, everyone is a Fed-watcher. Hopefully we will not lose any transparency and will lose some of the volatility.
transparency market lose
It [this report] is less inflationary than what we saw earlier this year. Bottom line, things are definitely slowing down a bit.
things
He thinks the [Fed] is right to remain focused on the risk of falling inflation.
risk falling inflation
You can see this clear, ongoing deterioration. And what's scary about this is it's still accelerating
scary
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